They would've had to already been on to take advantage of this baby. The 4 year Bull isn't even close to being broken, but these 10pt selling sprees (multiple, intraday, ES contract) are a shock-to-the-system. Think of it as they're just getting us warmed-up for when the Bear comes back to town. JJ
lol. Yeah. Something like that. I got caught, too. Never go against first intuition - I thought I learned this lesson 100x over.
You should have seen this coming when those CNBC morons went ga ga over a pathetic 30pts "rally" yesterday. TRIN was over 1 all day yesterday masking the underlying rot in the market.
<i>"For the past threee sessions, S&P 500 index has tested and failed at its 38% retracement level of recent highs to lows. This of course is a widely-watched mark of initial resistance. Failure to press higher and take that level out would show extreme weakness in the broad market."</i> Technical analysis trumps emotions every time. Dead cat bounce... lower lows lie ahead